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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateGeorgia
Effected JurisdictionCobb County Board of Education
Jurisdiction type: School District
Fiscal year ending In2017
Program nameTax Abatement
Program purpose: General Economic Development
Statutory authority: Georgia Development Authorities Law, under Title 36 Chapter 62 of the Official Code of Georgia
Abating jurisdiction(s): Development Authority of Cobb County
Applicable taxesReal/Personal Property Tax
Method of abatement: Tax Exemption
Provisions for recapture: There are provisions for recapturing some portion of the value of these incentives in the event capital investment and job creation numbers are not met during the incentive period; however, the Development Authority can immediately return title to a company for a non- performing project, which cancels the incentive going forward.
Gross revenue loss: $738,574
Reimbursement / offset: $0
Net revenue loss: $738,574
Type of loss: Passive
Additional notes on dislosureIncludes agreements with Terrell Mill LLC (Quintiles), Federal Express - Phase II, Novelis Global Technology Center, and Home Depot USA
Document sourcehttps://www.cobbk12.org/page/23516/ccsd-archived-cafr-reports-management...